“Amid the holiday cheer – which we could really use – will be an undertone of sadness as the economic downturn makes life harder for many Albertans,” ATB Chief Economist Todd Hirsch said in the survey results.

Albertans with a lower income were more likely to be cutting back this holiday season. About 44 per cent of people in households with annual income under $40,000 are planning to spend less, while 34 per cent of those with household incomes over $100,000 are planning to do the same.

“There are signs that the provincial economy will pull itself out of recession next year, but this is cold comfort for those who are struggling in the here and now,” Hirsch said.

The survey also asked Albertans about their Christmas travel plans. The majority (69 per cent) said they don’t plan to hit the road. Of those staying home, 58 per cent cited the poor economy as the reason.

The Albertans who are planning to get away for the holidays said they were mainly planning to visit another part of Canada, head to the United States or stay within the province.

“The drop in retail spending is just one indication of the recession’s impact but it is a good reminder that it’s real people who feel it,” Hirsch said.

“From the owners, managers, employees and suppliers of retail stores to the tens of thousands of Albertans wondering how they are going to get by this winter, the “r word” is not an abstraction.”

The results came from an Ipsos poll of 802 Albertans, conducted online between Nov. 1 to Nov. 7, on behalf of ATB Financial.

The poll is accurate to within +/- 4 percentage points, 19 times out of 20. Weighting was employed to balance demographics to ensure the sample’s composition reflected that of the adult population, according to Census data.